The Affordable Housing Trust

Nonprofit profile at a glance

EIN
477282311
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Charleston, SC, USA
Phone
8437203167
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$188,794
Expenses
$102,867
Assets
$1,224,416
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DONALD J CAMERON (PRESIDENT, W)

Highest reported compensation

  • ARTHUR MILLIGAN JR (VICE PRES.,): $172,373 total reported compensation
  • PETER SHERMAN (TREASURER, W): $127,608 total reported compensation
  • PRISCILLA WARING (SECRETARY, W): $54,595 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The affordable housing trust was established to maintain target rental rates for units at the williams terrace apartments for persons and families of low to moderate incomes and assisting in the payment of costs or operation, maintenance, repairs, replacements, and improvements to the affordable rental units within williams terrace.

What it reported doing in 2024

The trust is funded by transfer fees of not less than 1% of the gross sales price on all sales or conveyances of specific neighboring properties. The funds are then managed by trustee, weh inc., and will be used when needed to fund costs of the affordable rental units within williams terrace.

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 68
  • Accountability: 70
  • Sustainability: 79
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 45.5%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 11.9; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -5.1% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -33.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $103K in reported program spending
  • Leadership: top reported pay $172K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 5 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.